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Supreme Court Tariffs Ruling Leaves Households $700 Costs

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Story summary
  • U.S. President Donald Trump has overseen $100 billion in tariff refunds being paid out.
  • The Supreme Court ruled most of Trump’s tariffs illegal, deeming them unlawful.
  • The Tax Foundation estimates the illegal tariffs cost each U.S. household about $700.
  • ABC News reported most consumers who paid higher prices are not receiving the refunds.
  • Some firms plan to pass refunds to customers and earmark them for reinvestment or cost offsets.